Director of Kaspiysk Glassworks refutes bankruptcy information

The message placed in the Federal Register of Legal Entities that the Kaspiysk Factory of Sheet Glass intends to ask for bankruptcy is untrue and may be treated as a provocation, said Abakar Mudunov, the executive director of the factory.

The "Caucasian Knot" has reported that the construction of the above factory near the village of Tyube was launched in December 2011 on the initiative of the businessman Suleiman Kerimov. In December 2013, the factory was commissioned. In March 2014, the factory reached an agreement with Azerbaijan to supply there about 100,000 tons of Dagestan-made glass per year.

The information about the upcoming bankruptcy of the factory appeared on July 17 on the website of the United Federal Register of Legal Entities.

The Kaspiysk Factory of Sheet Glass Caspian is the largest industrial enterprise of Dagestan, built by private investors. The news about the impending bankruptcy was actively spread by regional mass media and discussed by users of social networks.

As explained by Abakar Mudunov, the authors of the news "had rather loosely interpreted" one of the documents, regulating the internal interrelations of the factory with the Russian "Vnesheconombank".

Full text of the article is available on the Russian-language website of the ‘Caucasian Knot’.